India Business News: Taiwanese company Foxconn Technology Group plans to double its investment and employment in India, as part of a manufacturing shift away from China. T
Taiwan-based Foxconn, the world s largest contract manufacturer of electronics, has expanded its presence in India by investing in manufacturing facilities in southern states, including an iPhone factory in Tamil Nadu, as the company seeks to move away from China.
Prime Minister Narendra Modi has pledged $10 billion to woo chipmakers, promising his administration will bear half the cost of setting up semiconductor sites. That effort has prompted US memory chip firm Micron Technology Inc. to announce a $2.75 billion assembly and testing facility in Modi’s home state of Gujarat.